Europe doesn't have nowhere near as strict zoning rules as the US, please stop spreading misinformation. Single use zoning is basically completely unheard of.

@@666Tomato666 The US is by all means an extreme. From the quality of the houses to the black and white zoning laws. They push the narrative of a home being able to sustain longer than 50 years very much so, while sky scrapers are built just for the ownership of it... So I agree, Europe is hardly like that. Even The Netherlands. We might have strict laws, but they are still diverse. I do think the video makes a good point on the mentality of how to view housing. If you live in a city with buildings that are hundreds of years old, you might get the idea that your home (which is of higher quality, sure, but not built to last hundreds of years either) might last several lifetimes too. But those really old buildings have been rebuilt in worth several times over. Meaning that we put in a lot of money to keep it that way. Which is great for historic purposes. But not so great for flexibility. To me you can join both worlds easily. A sense of how to value history while remaining flexible and innovative. Because what about buildings built right after the WWII for instance? Many of them are of terrible quality because they were built fast and cheap. The "charm" of it is what gives it its allure today. It is the style and the reminder of a period of rebuilding a society. It's not the buildings themselves that have much worth. And I've personally seen two major changes in The Netherlands. One that aims to recreate the style and history, but with a much higher standard of living in cities, by rebuilding with modern materials while keeping architectural properties. And not done in a fake way, but actually integrating the archetypes of the buildings styles within beautiful new clean simple architecture with materials that match. Even with prefab building techniques that make it able to build 5/6-story buildings in a matter of weeks on site (with prep of course being longer, but a great way to minimize construction nuisance). And without building sky scrapers, many properties become larger in sqms. And a totally different one, where the common space is becoming a larger part of the area, while the lot size people own is getting smaller (and worth more per sqm, because essentially you have the space around it to use too). This way space is maintained from a bird's eye view (or at least that's the idea, it takes a while to adapt to it) in stead of just all these separate closed off gardens. Creating more interesting area's to live in. Not just a park now and then, but green space accesible to everyone all around.

Don't forget that houses in Japan are smaller.

Masterworks is a scam like FTX. don't promote them. You are promoting a scam to your viewers for a paycheck.

@@blackmaster999 Masterworks is a literal fucking scam company preying on poor and uneducated... I'm going to give you the benefit of the doubt and assume you just didn't do your due diligence before accepting this sponsor... because if you did, and you still accepted it... well, then you'd just be a piece of shit. Either way, "don't recomment channel"

And to add to that, overnight street parking is categorically prohibited nationwide in Japan.

In Japan, there's no need for a car.... everything is walking distance

It's even better, you have to have a parking space large enough for that specific vehicle, and they check.

@@Aikynbreusovthat’s literally what he said 😅

Car ownership across Japan is still ~600/1000 (cars per 1000 people) compared to Tokyo at ~300/1000 and the US at 800/1000. Outside the major cities, you will definitely want a car, especially if you live in the countryside. No, not everything in Japan is within walking distance.

It’s getting wild by the day. The prices of homes are quite ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%). Sometimes i wonder if to just invest my spare cash into the stock market and wait for a housing crash or just go ahead to buy a home anyways.

I get such worries too. I'm 50 and retiring early. Already worried of the future and where its headed, especially in terms of financies and how to get by. I'm also considering making my first investment in the stock market, but how can I do so given that the market has been in a mess for the majority of the year?

The market is not necessarily a rollercoaster if you know your way around the market, there are various opportunities in the present market to accrue good profit, If you are not too savvy with the market, just buy and hold on strong companies with good earnings, or consult with advisors on ETFs and actively managed funds.

@@hasede-lg9hj Could you kindly elaborate on the advisor's background and qualifications?

I won't pretend to know everything, though. Her name is Melissa Rose Francks but I won't say anything more. Most likely, you can find her basic information online; you are welcome to do further study.

🙂

Japanese culture also values community over individualism. And this is one way that pays off - everyone wins together. If only America could get over selfishness and greed.

That’s what I wish we had in the US. i dont care about money exactly, I just need it for living expenses. What I really want IS stability and just to be able to have a roof, food, transportation (public transportation would be fine, if not great, car ownership is a lot of extra responsibility and bills) and medical care. If I have all that covered, anything else is extra.

What about their public transport issue eg crowded trains

@@JoannaEve If you're imagining people packed like sardines on the train that only happens in Tokyo at rush hour. I don't live in Tokyo so the only times I've experienced something similar would be times when there are huge events happening nearby.

the property is whats worth in japan, not the house. So its not inherent to wealth influx of the property

With a population decrease it's a good relationship, but I think when the economy is thriving, it may change.

Most voter are house owner or inherit house in the future. Yes its the biggest cause, most people dont actually want house price to go down

Maybe that’ll change with this generation that can’t even afford property lol

@@user-pe3tt7iu7g I mean they can just build more housing irregardless, the point of their system is that home production can speed up or slowdown as need be based on demand/population trends

I wouldn't mind the extra sunlight. The house where I'm living is dwarfed by neighbor's homes, so it's always dark, even in the daytime.

I don't see how this rule affects anyone's life in a negative sense.

I dont see that as “stricter” of say the ridiculous zoning and HOA restrictions in Texas… I see access to the sun as common sense design standards.

I'm not sure about that rule with regards to taller buildings in mixed zoning. You may be right. In my city I see old homes on large plots often bought and either divided into space for 3 tightly fit homes or used for one small apartment building that would cast a lot more shade. I don't know how they work things that way. Maybe the street takes up a lot of the angle.

That’s excellent city planning.

To add this, we have to inherit debts along with assets and the tax is applied to asset value minus debt amount. Landowners who own valuable land in Japanese cities tend to borrow a huge sum to scrap the property and build flats/condos or commercial properties. This will reduce the net wealth to zero so their heirs don't have to pay inheritance/gift tax whilst repaying debt from rent. There are tons of flats in Japanese cities built for avoiding inheritance tax rather than investment.

That's a good clarification to what the video claimed. Thank you.

Thank you

Could u give specific examples

This should be pinned. Glad I read this comment as I was a bit shocked when I heard that.

I can’t have guests in my apartment anyway, there is no room and the floor in my kitchen is sagging and uneven so I can’t have a kitchen table. I pay 70% of my income on rent and utilities. My income isnt alot so what’s left goes to food and car payment.

while that might be true for tokyo, a study concluded that japan as a whole is building bigger houses on average than the united kingdom.

Majority of overpriced housings in Canada tiny and too cheap looking yet they're paying $2 million per house, buyers are just too dumb here they know even know their paying that much.

I see a bit of an issue with this moving forward We are building smaller homes now here in NZ, but the social trends are moving in the opposite direction! Ppl are working from home a lot more, my younger nieces stay at home, play fewer sports and go out less than we ever did... Surely we are going to need bigger homes in the future to adapt to changing social behaviour? Ppl in 20 years might not leave the house?

@@Marynicole830 Did you fix the floor

Japan is disastrous overworked population stressful life Edit- those who are fighting over this or trolling me Better to visit the japan themselves to see how ruined up japanese people are inside how no of hours worked is everything for them

​@asianguy86 but atleast the people over work, and can afford life! You over work here cant afford anything America

Wow! In the Bay area CA where I live, rent is literally 10X that. I own so I'm fine, but young ppl here are hosed.

​@@asianguy86 everyone, in all big cities globally, is overworked and stressed. The difference is that your salary, though not impressive, can actually afford you a high standard of living in Japan.

not every job is like that. @@asianguy86

That's a result of a lack of zoning laws. Corner stores are allowed anywhere so many pop up with everything you need. In the US there are laws opposing this in many place but ways around it. Here in Texas, there are small gas stations everywhere which have small markets in them which act to circumvent the zoning laws.

This one is true just about anywhere outside of North America

Mindblowing to me that this is one of the things conservatives fear most. 15 (or here ten) min cities that are walkable and aren't car dependent

True. Tokyo is dwvoid of the giant empty parkings found over big US cities. This helps using available land efficiently.

I was in D.C. and didnt feel safe using the metro even as a big guy lol So many thugs and homeless. Japan is safe, clean, and efficient love it here

@@GNMi79You don’t. Dense cities like Tokyo (and Taipei, where I live) generally have grocery stores within your neighborhood you can just walk to instead of a giant big box that everyone drives to. From my apartment, there are two grocery stores within a five minute walk, and at least another three that I know of within 10 minutes. And if I’m feeling especially lazy, there’s two 7-Elevens and a Family Mart right across the street from my apartment. Granted, Taiwan has more convenience stores per capita than Japan, but the experience in Tokyo is much the same.

​@@GNMi79Are you really that frail that you can't carry two shopping bags a mile?

@@GNMi79tell me you’re american without telling me you’re american

​​@@GNMi79could be an office, a bank, a small private business, whatever. I think it's a great urban strategy. Clearly wouldn't work in all cases, but airports are an anomaly in this case

@GNMi79 that's true. But also there's a shift in workers in regard to commuting and work/life balance which is becoming more a consideration. If a job pays a little less but offers you 3 hours more per day because you walk five minutes instead of travelling 1hr + by train, this is a decent incentive. For me, I'm a builder so I have no choice but to travel and I'm probably limited in my knowledge of the situation. Of course the other factor here is the ability for corporate employees to work from home, in which case I would find it nice to have a cafe a couple of minutes from my house. A mixed use set up also just feels more lively and vibrant and improves quality of life and happiness in that respect

I agree a lot of rural areas in japan are very liveable places as long as sufficiently equiped with infrastructures just that lack of english signages

well, you're literally two different types of locations. You're comparing rural japan to metro Canada. How does rural Canada fair compared to rural Japan? Now obviously I'm sure that rural Japan will still be cheaper due to its declining population, but it's probably not as bad as metro Canada

@@weiyawphuah8987 It's not england

It was the case in the 1980s and early 1990s in Japan too. Then they had a massive real estate crash in the 1990s where their property prices plummeted by over 60%, and people that bought investment property in the 1980s saw insane losses on it and as a result, Japanese no longer saw it as a good investment since then

That’s what he said

You said what I was gonna. If the West decided tomorrow, you have to live in the house if you own it. The price of houses would drop overnight. You wouldn't have the same big companies buying up whole suburbs, jacking up the prices, and making the crisis.

its not only the rich people. since buying a house considered as a n investment that has to give you a profit, construction companies are also willing to make it as expensive as possible. again, once bought, owner of the house does everything to skyrocket the price to make a profit. the only way to deal with this is breaking the investment in housing. We can do that by limiting what a house can have, limit the increase of the price of a house becaus of luxury additions, preventing owning more than a house and strict inheritance laws

literally the way he was like "why is it like this? nobody knows" bro it's literally because of greed and rich people wanting to get richer instead of allowing everyone to have decent living conditions

Green space calculations include private yards of the housing. So on one hand we say other cities aren't built densely, on the other hand we're praising their green space. I would much rather the comparison with public green space only.

@@Zraknul Ahhh, that makes a lot more sense, then! Yeah, backyards are basically nonexistent in Tokyo -- and in most of Japan, for that matter! It's public green spaces that are more plentiful than I'm used to from back in the U.S., and it's those plentiful city parks where children will congregate and play, the elderly will people-watch, and pet parents will take their babies for walks. It's really nice, and makes the whole city feel more lively and welcoming IMHO.

@@Wyrdwad The frontyard is the one that is strange to me. Some of the houses in my neighbourhood have about 1/3 of their lot as front yard. It's not social like a park, and it's not private like a backyard. It's a wasted middle. We also do have a fairly large central park with some empty grass space, tennis courts and soccer fields that is only a few hundred meters from these houses.

Tokyo routes traffic into streets and leaves the smaller streets and alleys to the pedestrians, which often have nice trees and benches. It feels park like, but doesn't get included in the videos definition of 'greenspace'. Its misleading, as I too find Tokyo to be quite leafy.

Talking dollars, it’s cheap Talking yen, it’s not But you’re in Tokyo so I guess it’s cheap for Tokyo standards Yet, buying/building in Tokyo is hella expensive just for the land

Man, it makes me sad that people tried to fear monger about what would objectively be a good change for housing and quality of life. Why are we so afraid of improvement😅

Why are people so afraid of more freedom and less busybody government regulation. We complain about over controlling politicians and bureaucracy all the time, yet somehow dont have an issue with zoning rules that do just that.

You're correct! With the help of an investment coach, I was able to diversify my 450K portfolio across markets and produce slightly more than $830K in net profit from high dividend yield equities, ETFs, and bonds.

You can employ another adviser, but Margaret Johnson Arndt is my one who provides guidance. She has years of knowledge in the financial markets, and her approach has worked for me in the past, leading to my success. She offers points of entrance and exit for the securities I prioritize.

@HarveyMark-gk1omthe more people who invest, the less value investing has. We need a solution not a bandaid

Do they have long-term fixed-rate mortgages in Japan, like in the US?

Canada’s been dodging a proper RE reset for decades and The Bubble got ridiculously big. Moreover, I’m damn sure our socialists will try to save every poor soul drowning in debt. That means working GenZ, that can’t find affordable roof over their heads, will have to pay for Millennials and boomers to keep their digs&riches. That’s a “nice” setup. Anyways, old and wise multi-billionaire Ray Dalio described it all in his Principles. Wars are a’coming.

The crisis is not limited to prospective homebuyers; even homeowners are feeling the repercussions. The accompanying increase in property taxes and maintenance expenses has driven up the overall cost of owning a home to unprecedented levels.

Many might attribute this situation to immigration into the country, but it goes beyond that. The Cullen Commission provides comprehensive information on why the housing market in Australia is underperforming, with issues such as money laundering and malpractices coming to the forefront.

Considering a move, perhaps even back to Mumbai, is a viable option, as long as you can maintain a decent standard of living in the current economic climate

In times as financially precarious as these, it is essential to seek advice from an experienced financial advisor. Professionals like Kayla Tabitha Rodigues have honed their expertise in navigating the complex world of real estate and financial intricacies, offering guidance and strategies to help individuals and families make well-informed decisions.

I've never witnessed such a large-scale operation so geographically concentrated. An ongoing public inquiry into money laundering in New South Wales, led by Justice Richard Edward O'Connor, is shedding light on the issue.

Because

The fact is that NIMBYs are actually correct in their understanding of how housing policy works but they just want to make everything worse. Doing the things they say not to do results in the things they are afraid of happening (housing getting cheaper lol)

To be fair, just because something is simple doesn't mean it's easy to do.

The usa had near zero interest for 10 years and out government did nothing. Governance matters as much as the interest rates

$800K for Tokyo house? Is it a mansion?

@@rocketman3770 they built a 3 story 3 bed house in a suburb of tokio

You had much higher interest rates from 1950 to 1990 and it still was cheaper to build homes.

@@m.3257 but how can we make labor cheaper? This screws the workers

where is this place that you mentioned? which country/town?

@@teckmenglee8060 the place where the house sold or the place we are moving to?

Monoculture is a dead dream in the west

I second that too. Cheers to people living in Japan.

but why? Why is it survival of the fittest in the west? Even in places like Australia/UK a lot of people talk like that, 'omg i dont want APARTMENTS in my backyard, its MY LAND!!!' its just so selfish Props to that Japanese politician guy in the 80s-90s who kicked out all those selfish land owners and started the apartment revolution

Because there is no foreign influence. Rich foreigners didn't buy properties, so prices are low. If you look other parts of the world, you would see that foreign influence is usually a bad thing.

In NYC you pretty much have to pay deposit plus multiple months of rent up front so it’s the same idea

It's not a "have to" to give key money. I moved to Japan and have been living here for 2 decades now. You can just opt not to pick apartments that has extra fees. Our current place is 440sqft and costs $350 a month, half an hour from Shibuya/Shinjuku. We didn't pay any key money, no deposit, first month of rent is free. And key money is usually just 1 month rent. In our case that would've been $350 which is not "a lot more expensive". Again, you can choose. There's so much to choose from in Japan. There's no shortage nor any crisis here.

Key money is usually 1x month rent for a 24 month lease. It sucks but given than my partner and I pay around $240us a week to live in a 3 room apartment in inner wards Tokyo - one of the most exciting places on Earth - I don't think it's a bad concession.

@@tborsje Don't forget the contract fee and having to pay both of those again to renew after 2 years! That being said, I lived for 6 years in Yokohama and had just a small contract fee and deposit and nothing for reupping. You can find these kinds of deals if you look hard enough.

3 to 6 months worth is a bit of an exaggration. Its more like somewhere between 1 and 2 months worth of rent & half of it is usually refundable at the end of the contract.

Houston has no zoning laws.

@@NixonAngelo It does, they're just done under a different framework from the rest of the US, so they're not the same "zoning laws" but some other label that effectively means the same thing. And despite being different, they're still mostly identical to the rest of US's zoning laws in implication so the result is the same anyway.

Zoning laws are not bad, zoning laws in USA with insane parking lot lands are insane

I think there's a conversation to be had about the effectiveness of zoning and how both politicians and NIMBYs have utilised it, but this comment is very naive. Zoning came in place as a reaction to the industrial city specifically to ensure people had access to light at street level. Most people aren't exactly working for the best interests of their entire community. Additionally with the amount of court cases brought in opposition to development even with zoning bylaws allowing some as of right development, I literally cannot imagine how bogged down the court system and development would be without as of right permissions.

​@@MrFramI agree with you,I'm a Houstonian and everything you say it's true

So, the wealth comes from the work of workers, and not from the speculation of apartment owners, influencers, footballers or managers? Whoah, we forgot a lot.

Maybe UBI could work well then

You are describing a school of thought called Keynesian economics. Have a read into it, there is a lot of data already on some of your hypothesise you posted! 😄👍

You're absolutely right

The house itself is not expensive... It's the tax that come with living... Also the cost of Food isn't expensive... It's the Traveling that is expensive. All the eye candy delicious you want to try will force dry your wallet.

@@tiefblau2780 Taxes in Japan are relatively low.

yeah most seniors there just live of their state pensions or rely on their children

Your home should never be your retirement plan in the first place. If housing were cheaper, people could put way more of their money into their RRSPs, TFSAs and other investment accounts, and would still be able to retire comfortably without having to sell their house.

No Japanese government pension is abysmal and the worst in the G8 save for Russia. Even if you work for a company for 25 years and you get a pension from that company PLUS the meagre national pension you will get about $2000 a month (combined). Elderly are often in dire straits here

Many actually either willingly go homeless (they don’t want to burden their already busy adult children) or live with their children’s family. Nursing homes isn’t really common outside the US especially in Asia.

NIMBY is a huge issue in Canada. You can't build anything because of them

There are still zoning laws. Zones are numbered and become more permissive as you slide from one zone to the next. That way you don't end up with an iron ore processing plant inside a strictly residential zone.

@@jasonfuerstenberg2241 yes but they are not so strict that you must have a front yard and a back yard and you can't put a fence on your front yard and you can't build higher than 2 stories and the million other types of zoning laws there are in other places.

They do have very good approach to zoning, instead of the local area having too many rules that make things very confusing and complicated they have a national level zoning instead, which is straight forward and can be applied everywhere, they also are more adopted to mixed uses ( commercial / residential/institutional) you end up with very little true limits on what you can build on any given lot. And as bonus they don't have any regulations for "aesthetics of character of neighborhood" basically it's free for all

@@corvoattano4777 This is true.

@@corvoattano4777 There are height restrictions in a lot of the residential, I bought a house in Tokyo a few years back, and I looked through renovation possiblities, where I live you have a strict can't be higher than x meters because it'll block the sun for neighbors thing, especaially since the houses are at most 1.5m apart, think its more on how I have a small clinic, ramen place, a small farm and a warehouse within 100m of the house, its all mixed

How can you live in an interent cafe? They have beds there or something?

@@AdvocateOfJamaica They literally rent a booth in the cafe, share a common washroom, get food from a vending machine, and have a bedroll. Better than sleeping rough on a street, cheaper than a small apartment.

​@@AdvocateOfJamaicathey also have public bath houses there as well.

​@@AdvocateOfJamaica The cafe's are setup as little private booths. You can get different sized booths in some cases. They have pay showers and limited food options available. They're nothing like western internet cafes.

According to a survey by the Japanese government and NGOs, the number of Japanese living in Internet cafes without an address will be about 4,000 in 2020.　 And the old school homeless population living on the streets is about 3,000 people, which together with the Internet cafe residents is only about 7,000 people. The reality of homelessness in Japan is said to be hidden, but even so, the homeless population in Japan is much smaller than in Europe and the U.S.

So, it must be wrong information that there are many re-constructions over old houses. I was wondering where the money would come for reconstructions. Even to change a car too often is not possible unless you have a very good cash flow.

Japan builds housing like you wouldn't believe. I've seen a patch of dirt turn into a 10 Unit Apartment Building in less than 4 months, Just down the street from me. I've personally seen at least 3-4 dozen new buildings pop up within the immediate vacinity of my apartment (4 active house constructions down the street, Plug a large construction project on the other side, All within a 30 second walk of my front door), And I've seen a handful larger apartment buildings near where I work. THOUSANDS of small homes and smaller apartment buildings are under construction constantly in Tokyo. If you go through a roadway or train around the city with good views (Some Expressways and Haneda Airport Monorail for examples), You see Dozens upon Dozens of large cranes building massive buildings and other construction projects. They're Everywhere. 860,000 Housing Starts in Japan in 2022 (couldn't find Tokyo specifically, But I'd assume a majority of those are in the Tokyo area). The issue with Japan vs America is that Japan builds MASSIVE apartment complexes. There's one you pass in a place called Fuchu that's over 560 Units in a single building. that's like 13 stories. 30, 40 story buildings holding 150, 200, near 300 Apartments in a SINGLE property. IN the US you need to start 300 Builds to make 300 homes. In Japan 300 Builds is like ... 10,000 Units. The numbers are magnitudes of times more efficient. 300 families being housed vs 10,000 families being housed in pretty much an identical timeframe.

What changed is that after the housing crash in 1997, Japan's ruling LDP party intentionally destroyed housing as an investment so that they would never again be in that situation. This wasn't mentioned by Dom, but the Japanese central bank legally declares your home worthless after 30 years, you cannot sell it. You can only sell the land, which is considered a legally distinct entity in Japan. Buying a home in Japan is like buying a car in the west. It's a luxury item that depreciates in value and is considered to have a lifespan.

@@randommonacur2151 The LDP is a party that makes decisions haphazardly, so I don't think they make policy decisions systematically. But in the end, you're right. Aside from land, houses are expendable items. Some people live in areas where land prices and taxes are high and rich people gather, while others live in suburban areas where land prices and prices are low but there is plenty of space. Some people won't accept that a car isn't a Mercedes, while others are fine with a Hyundai. Even in Tokyo ,there are endless options for people. If you take a train for 45 minutes from the Yamanote loop towards the suburbs, you will be in the Hyundai area for the most part. The areas in the Yokohama area are high class, but most of the other areas can be lived in by ordinary people.

@@randommonacur2151 That's a big simplification of the reality. Plus anyway outside of the countryside you're usually spending as much money on the land as for building a new place. Because of the increase in regulations (especially for earthquake risks), older buildings do lose value quickly, but some buildings that are 30 years old still add a tiny bit of value to the land they come with it. but past something like 50 years they become a pure liability, especially because of asbestos potential use that increases the destruction cost (could be more than 10 or 20% of discount on the land if sold with the house).

Japan and China are right strong central government is superior and weak government is creating homeless people

How did you manage to stay in Japan? Marriage or work?

I think that it's not that there is too much government, it's that there is too much BAD government. There is too much red tape and politics focused on supporting corporations and the wealthy. These policies have been designed to sacrifice the working class and below. Any time that you see massive parking lots and suburban designs, that is the result of the rich and wealthy lobbying to change zoning and environmental laws just to make more profit. It doesn't help that our population is spread across a much more vast area, meaning that when you need to gobto work you might need to drive 50+ miles on a 3 hour commute which would all but necessitate owning a vehicle in some capacity. More dense populations need to actually plan how to fit all of their societal puzzle pieces together, whereas the US and many European or American continent civilizations have massive ammounts of physical space to the point that they just decide to expand more and more outwardly leading to the current state of US city and road design.

In 1991-1992 I lived in Sapporo because I had a Fulbright Fellowship. Now I have residence because I have been married to a Japanese woman since 1990 or so. This time around I need her even more than the first time because this is permanent, and I needed to get continuation of medical care because I have a lot of serious medical problems. I like the medical treatment over here better than in the USA even though the USA place was in a location where the medical is supposed to be excellent. @@myjourneys7111

@@myjourneys7111 How about you

Quick and informative, thank you.

Yep, main reason is that Japanese property investors lost so much money in the 1990s from the crash that they no longer saw it as a worthy investment

This is just circular reasoning. People don't buy houses because they're not growing in price, because people don't buy houses...

Exactly. The Nimby Boomers set it all up this way before we were born. The Nimby Boomers have wrecked us all and their only "legacy" is an utter nightmare for the rest of us.

What types of policy changes do you feel would lead to more small scale developers? Obviously people would still want environmentally sound policies that maintain safe building codes.

@@Knightmessenger any new building would have to go through department of buildings approval. I think what limits small scale development more than anything in nyc are land use and zoning laws. When ny’s zoning resolution was made in the ‘60s, it set local zoning codes based on the current neighborhood buildout. Meaning that an area substantially built out with 5 story townhouses were set in an r5 district meaning no increase in building heights for new developments without going through the city’s land use (ulurp) and environmental review process (ceqr). Allowing for more flexible land uses but limiting those that introduce adverse environmental factors like noise and air quality emissions close to residential areas should be allowed. In Japan, individuals can operate small scale businesses in their buildings. In nyc, commercial land uses are permitted only along certain commercial corridors/streets. Affordability in nyc isn’t just about housing but also the cost of operating a business and small scale manufacturing. If you allow for more business growth in more parts of the city, the cost of operating a business goes down and residents have more low cost retail options. Nyc is pursuing an initiative called the city of yes which is revamping the zoning resolution for the first time in decades. I have yet to get into it but my hope is that it allows for higher incremental building density in transit served neighborhoods and more lenient land use laws. We need to bring back small scale developers in this country.

If the value increases, so do property taxes. Rent raises are partially to offset that.

@@GermansLikeBeer Yes that is why every single realestate investor raises their rents, it's cause of property taxes. Keep telling yourself that. Landlords have an asset that is appreciating in value and cashflows but they want more cashflow because bigger number brrrrrr.

Some people want to live on the upper 2 floors of their house and have a person live in the basement who pays their mortgage and half of their utility bills and then some. At least in a co-op or a rent controlled apartment building what you pay may help to subsidize someone older who needs affordable rent.

20年ごとに再建されるのは三重県の伊勢神宮だけですよ、、、 それは宗教的儀式でありそれ以外の寺社でそんなことするところはありません。奈良の法隆寺は世界最古の木造建築で1400年変わらず立っています。

​@@user-xh5vz4ty8gThank you for your information.

That's the case for literally everywhere but Murikkka. Basically all of Europe allows mixed office, residential, and commercial use.

There are maybe a dozen zones in Japan (defined at the federal level) and all but one or two allow residential use. Off the top of my head, the heavy industry (eg. steel mills, shipyards) zone is the only single use zone.

@@JonMartinYXD Let's be real, nobody wants to build housing next to heavy industry anyway.

@@JonMartinYXD As it should be. The one really justifiable zone is "keep stuff that's inherently noisy, smelly, or _potentially explosive_ away from everything else".

@@mindstalk Pretty much. Even the "medium" industrial zone allows residential and commercial, only banning schools, hospitals, and hotels. The "light" or "quasi" industrial zone allows everything except the most noxious and dangerous industries. The heavy zone isn't strictly single use. It also allows: offices (makes sense - companies almost always need office space for managing a factory), and this being Japan, karaoke bars. Small, not dangerous factories are even allowed in a couple of zones besides the three industrial zones. That's a really big deal for small manufacturers. They can have a commercial front to the factory and their workers don't have to commute to some industrial park.

The house itself is not expensive... It's the tax that come with living... Also the cost of Food isn't expensive... It's the Traveling that is expensive. All the eye candy delicious you want to try will force dry your wallet.

They literally just have to copy it.

Of course not that would make sense.

As if the billionaires and corporations who own the property would ever allow these policies to be implemented. The only policy you really need is a tax system that can make real estate non viable as an investment. Mixed use zoning is good on general, but not needed to solve housing. All the cities with housing shortages have plenty of housing stock, it's just all being wasted sitting empty because the property owners would rather hold on to the empty property as an investment rather than spend the effort to rent, or sell it and lose potential future value. Implement a giant annual tax for half the value of any property occupied by a permanent resident less than half the time, and tax all revenue from house sales above purchase price + inflation, and the housing crisis will go away real damn quick. There are no shortage problems in the modern world. There are only rich aesholes hoarding resources while everyone else suffers problems.

@@FNLNFNLN100%

Japan boasts the highest average IQ scores in the world, with Taiwan and Singapore right behind it.

I dunno man, I'm a bit wary of broad statements like that that veer towards essentialism. Japan has major issues with its society and culture as well. I think this is just a matter of good policy brought on by circumstances that helps encourage some positive cultural behaviours. The good news there is, we can copy that, it isn't some magical innate character the Japanese have over anyone else.

@@missplainjane3905 Sorry, I don't understand your comment?

He mentioned the earthquakes and that the houses are torn down and rebuilt more frequently because of them

It's functional

Here in France apartments are essential in small town/cities because seniors downsize and need to be in walking distance of shops/doctors/public transport. While in the states retirees either live in retirement homes or houses that are too big and need to drive everywhere.

You say that like its bad lmao

@@Padopoulosman It is bad. I'm someone who really likes old architectural styles (especially Baroque), so Swiss cities are beautiful imo whereas German cities (which are all modern thanks to WW2) are ugly af. The thing is we could easily build using old architectural styles while keeping buildings looking good from the outside. We just choose not to. Every new building gives you the advantage of things like centralised heating or double glazed windows at the cost of living in modern ugly buildings. If we want people to have a good quality of life, old architectural styles need to be preserved while old buildings are rebuilt or renovated while keeping the original asthetics.The thing is almost all buildings that are rebuilt are never built with the original architecture, making people who don't like new ugly buildings skeptical of replacing the current housing. I live in an apartment in Turin and my whole building needs some major restoration but I wouldn't ever allow it because I know that my beautiful neighbourhood would get destroyed and look like the ugly, newer suburban areas we have.

@@PadopoulosmanIt kinda is. Not saying we got to destroy everything, but we got to prioritize people not buildings.

Not really, I live in a European city and they're constantly constructing new apartment buildings, and yes, they do tear down or renovate old buildings. The main problem is that the majority of these properties are hoarded by the rich who see them as a long-term investment and will only rent or sell them for ridiculous prices. They don't care if they stay empty, because they're appreciating in value anyway and they drive prices up by keeping the supply of affordable housing low. In my city about 10% of all apartments are empty. I figure much of the housing crisis could be solved by aggressive taxation of vacant properties.

It's cheaper than living in my rural NC apartment. By square meter you might be right, but I could get a reasonable studio for half what I could in rural NC. And would have more choice. That's insane.

⁠​⁠@@saliferousstudiosBut yeah it’s about square footage, those apartments you talk about are probably much smaller than they look and are literally a room with a bathroom. If those Japanese style apartments existed (and were legal to build) in rural nc they would still be way cheaper than in Tokyo. But there’s tons of restrictions in nc which make you build much bigger and have tons of window space and green space etc

just the kind of place I wanna live in

Isn’t there already an incentive to move to rural areas that came out within the last year? I believe grants are being given out to those Japanese Citizens who are willing to relocate to rural areas.

They basically give away houses and give young couples stipends to raise their families in rural areas. It is just extremely rural compared to Tokyo and such. Really they need to incentivize companies out of the city.

im sure its to do with insane work culture in Japan , the best jobs are probably centralised in Tokyo , unpaid overtime means you basically have to live in the office , so the last thing people wanna do is spend hours on the commute to work when they are already falling behind on their sleep

You need to have a car to live in any rural place in Japan and most people coming to Japan betting on its' grand and extensive public transit don't want to have to have a permanent money sink to deal with. Somewhat similar thoughts from my Japanese friends (though they also complain that it's 'middle of nowhere' with nothing to do and nowhere to go). Really, only a particular type of person would ever be interested in moving to the countryside, no matter how cheap, and there ARE things you're giving up in order to have cheap housing. A lot of people don't want that.

Are you local or foreign

What other places you been to

You’re looking at wrong streets then because that’s exactly how 90% of Tokyo looks like..

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Vienna's population is lower than its peak. It was constantly declining for most of the 20th century and has only really been consistently growing since 2000.

@@HotDogLaws Its peak was in 1916, and a huge portion of its housing stock was either demolished over time or bombed out in WW2. Its been rising since 1990, and since then the city has gained almost half a million residents. Because much of its housing stock has been missing this has also meant a lot of new buildings needed to be created.

Exactly

These countries like the U.S. and China trying to base whole "economy" on housing speculation bat$#^! crazy. Look how it destroyed us in 2008 and all the problems China's having today because of this speculation. Housing is only one part of the economy and it needs to be about housing and housing only.

You're absolutely right. Houses depreciate. They're not "investments." It takes an artificial "system" to make across the board fake "zoning" "single 'family' home" perpetually "rise" in "value." It's impossible so many could so consistently "rise" in "value." But I fear the lunatic nimbys are going to keep up their "me me me all me me me" charade until they finish destabilizing the country and we all know how much "home values" are in failed states.

It's just simple maths. When you sell your house, you want to gain more than you paid while buying it. Of course, at some point you hit the ceiling - which arguably is now.

Precisely

Are you fluent in the language and have been to every prefecture

Do you enjoy living in both places

It's very possible for ordinary people to have their own green spaces here in Japan, just not in Tokyo. It's like saying it should be possible for regular people to have their own private green space in New York City. If companies actually followed through on the possibilities of remote work and took a more "production orientated" rather than "face-time" orientated view on pay. Then most people would move out of Tokyo to one of the smaller cities in the countryside where you can buy land, a house with plenty of green space, and a car for very very little (due to the population decline). Nearly everyone I work with in Tokyo that's over 30 would rather live elsewhere in Japan. They're only here (as I am) because they are forced into an office 3 -5 days a week!

Aren't those Japanese from big cities like Tokyo? I live in a province city in Japan and I like it because it is quite calm. And with the rising housing prices in the U.S. today, only a few rich people can afford to live in the house of their choice.

What about earthquakes

States Island is so underrated NGL and most likely because it is pretty far.

The thing is, it doesn't, it's just worst there because that is what got hit first. Everywhere is being impacted in the last few years, dustbowls and Florida being hit with 40% year on year increases now as well. Change zoning laws, build more midrises people.

The housing crisis is everywhere even rural areas small towns

The terrible "zoning" "laws" need changed everywhere

Exactly. Everything needs to change in the U.S. It's completely out of control and has been for way too long. It's destabilizing the country, and this crazy Nimby mentality is a big part of it. We need mixed residential / mixed use not fake "single 'family' "zoning" that are often devoid of children something caused by foolish and terrible greed treating housing as speculation. We need to bring back duplexes and many housing options. We need to make housing about housing not speculation.

The whole housing market is distorted and manipulated by cartels. I live in a college town and out of state corporations built so many apartment buildings, a lot of local landlords just threw in the towel. Here's the thing, the number of students has gone down and these apartments were overbuilt. You'd think rent would decrease by supply and demand because there should be empty units to rent out by reducing the price. But instead rent just keeps going up year after year. People who keep the city running can't afford to live here. I'm certain there are many vacant units but instead of lowering rent to rent them out, these corporations prefer to keep them empty and keep rents high overall. A cartel of these corporations recently got caught because they using software to fix prices and the software outright tells them not to rent out empty units but to keep the prices high on the currently occupied apartments. They'd rather have half the building empty than lower rents. But whose side does our local government and state legislature take here in this "freedom loving" "utopia" where we have a billionaire "governor"? The local population? The renters? The small local landlords who used to help provide more diverse housing options? The people who live here and vote here? Nope. Everything is in favor of the large out of state corporations manipulating and distorting the housing market and schemes. So rent just keeps going up and up. These kinds of schemes are going on all over the country, in every state and it's been destroying the ability of the country's younger generations to get started in life or even think of being able to afford kids.

Exactly the housing market is deliberately distorted and completely manipulated by the syndicates and nimby that are nothing short of mafia behavior

...that's why there is a housing crisis............

@@mistress.villaina7591 absolutely. It’s an investment-not a home.

@@franwex hopefully it can change at some point

US government create rules and program to push home price higher. Japan government doesn’t mind if it doesn't increase even without less property tax. After the house bubble, they tried so hard to increase the house price..they even gave money to Blackrock to buy your house.

@@mistress.villaina7591Well there needs to be a massive real estate crash for it to change. Japanese saw it as an investment too-until the 1990s when their property market experienced a massive crash, causing property investors there to lose hundreds of thousands to millions of dollars per property in a short period of time which fundamentally changed how they viewed it

Probably because they have frequent earthquakes and most people live in apartments? Tall heavy buildings break down a lot more than a wooden single house. We have a similar law in Korea, after 30 years the owners can vote whether or not they want their building to be demolished and built anew.

"at threat" of a bubble, instead of "deep in and unwilling to get out of" a bubble in the west

@@S4vman I don't think anywhere on the planet has seen 60% condo price increases in 6 months. That is on top of the fact Tokyo condos exceeded the 89 bubble peak back in 2019, that was nominally but rememeber Japan has had almost totally stagnant wages and inflation since the 90's. Whilst Tokyo for the average homeonwer is still cheaper for many renters and buyers in many districts than say London or New York, A lot of the seeming cheapness of Japan is simply that as the population shrinks and moves inward to major cities like Tokyo, Osaka etc people are leaving abandoned properties which has massively pulled down the average house price but they are not especially cheap in places where there are jobs and people actually want to live. As for willingness to get out of, it's not as if zoning can be liberalised much further so any gains that has created are already baked in and not seemingly stopping massive speculation at least in some areas of the market. If they are serious about tackling the nascent bubble they will implement a land value tax , or even just increase current property tax rate.

​@@schumanhumanYeah Tokyo is not affordable compardd to the rest of Japan

Japan is also a Developed country 🤓🤓🤓